IRSA Investments (NYSE: IRS) director sells 5,524 shares at $1.69 equivalent

Rhea-AI Filing Summary

Director Fernando Adrian Elsztain of IRSA Investments & Representations Inc reported selling 5,524 common shares on April 9, 2026 at a USD-equivalent price of $1.69 per share. The price corresponds to ARS 2,482.26 per ordinary share, using an implied exchange rate of 1,468.47 ARS per USD and a ratio of 10 ordinary shares per 1 Global Depositary Share. After this transaction, he directly holds 0 common shares, and the sale was not indicated as made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 5,524 shares

Net Sell 1 txn

Insider Elsztain Fernando Adrian

Role Director

Sold 5,524 shs ($9K)

Type	Security	Shares	Price	Value
Sale	Common Shares F1	5,524	$1.69	$9K

Holdings After Transaction: Common Shares — 0 shares (Direct)

Footnotes (1)

1. F1. The price reported in Column 4 is the U.S. Dollar (USD) equivalent of Argentine Pesos (ARS) 2,482.26 per ordinary share. This equivalent is calculated based on an implied exchange rate of 1,468.47 ARS per 1.00 USD, resulting in a reported price of USD 1.69 per ordinary share. This implied rate is derived from the closing price of the Issuer's Global Depositary Shares (GDS) on the NYSE on April 9, 2026, relative to the closing price of the underlying ordinary shares on the Bolsas y Mercados Argentinos (BYMA), adjusting for the ratio of 10 ordinary shares per 1 GDS.

Key Figures

Shares sold: 5,524 shares Sale price per share: USD 1.69 ARS price per ordinary share: ARS 2,482.26 +3 more

6 metrics

Shares sold 5,524 shares Common shares sold on 2026-04-09 by director Fernando Adrian Elsztain

Sale price per share USD 1.69 Reported USD-equivalent price per common share on 2026-04-09

ARS price per ordinary share ARS 2,482.26 Underlying Argentine peso price used to derive the USD-equivalent sale price

Exchange rate 1,468.47 ARS per 1.00 USD Implied exchange rate used to convert ARS price into USD-equivalent

GDS ratio 10 ordinary shares per 1 GDS Ratio between ordinary shares and Global Depositary Shares referenced in pricing footnote

Shares owned after sale 0 shares Total common shares held directly by the reporting person after the transaction

Key Terms

Global Depositary Shares, Bolsas y Mercados Argentinos (BYMA), implied exchange rate, ordinary share

4 terms

Global Depositary Shares financial

"derived from the closing price of the Issuer's Global Depositary Shares (GDS) on the NYSE"

Bolsas y Mercados Argentinos (BYMA) financial

"relative to the closing price of the underlying ordinary shares on the Bolsas y Mercados Argentinos (BYMA)"

implied exchange rate financial

"calculated based on an implied exchange rate of 1,468.47 ARS per 1.00 USD"

ordinary share financial

"the U.S. Dollar (USD) equivalent of Argentine Pesos (ARS) 2,482.26 per ordinary share"

An ordinary share is a unit of ownership in a company that gives the holder a stake in its profits and usually the right to vote on key decisions. Think of it like a slice of a pizza where each slice entitles you to a portion of what’s left after bills are paid; value can rise or fall with the business and may pay dividends, so it matters to investors for income, growth and control.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/30/2026 - 02:34 PM Accepted by SEC EDGAR 07/30/2026 - 02:28 PM Learn about SEC filing dates

FAQ

What insider transaction did IRSA (IRS) report for Fernando Elsztain?

Fernando Adrian Elsztain reported selling 5,524 IRSA common shares. The sale occurred on April 9, 2026, and involved common shares held directly, with a reported USD-equivalent price of $1.69 per share and no remaining direct holdings afterward.

At what price did Fernando Elsztain sell IRSA (IRS) shares?

He sold the shares at a USD-equivalent price of $1.69 per common share. This reflects an underlying price of ARS 2,482.26 per ordinary share, using an implied exchange rate of 1,468.47 ARS per 1.00 USD and a 10:1 ordinary share to GDS ratio.

How many IRSA (IRS) shares does Fernando Elsztain hold after the sale?

After the reported transaction, Fernando Adrian Elsztain directly holds 0 IRSA common shares. The Form 4 data shows total direct holdings following the April 9, 2026 sale of 5,524 shares were reduced to zero, with no additional non-derivative positions listed.

Was Fernando Elsztain’s IRSA (IRS) share sale under a Rule 10b5-1 plan?

The sale was not indicated as made under a Rule 10b5-1 trading plan. The report’s Rule 10b5-1 checkbox is explicitly unchecked, and the footnotes do not describe the transaction as pursuant to any pre-arranged trading arrangement or automatic sales program.

What currency conversion was used for Fernando Elsztain’s IRSA (IRS) share sale?

The reported USD price is based on an implied exchange rate of 1,468.47 ARS per 1.00 USD. This converts an underlying price of ARS 2,482.26 per ordinary share into a USD-equivalent of $1.69, factoring in the 10 ordinary shares per 1 GDS ratio.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Elsztain Fernando Adrian

(Last) (First) (Middle)

CARLOS DELLA PAOLERA 261

(Street)

BUENOS AIRES BUENOS AIRES C1001ADA

(City) (State) (Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
IRSA INVESTMENTS & REPRESENTATIONS INC [ IRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	04/09/2026		S		5,524	D	$1.69(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is the U.S. Dollar (USD) equivalent of Argentine Pesos (ARS) 2,482.26 per ordinary share. This equivalent is calculated based on an implied exchange rate of 1,468.47 ARS per 1.00 USD, resulting in a reported price of USD 1.69 per ordinary share. This implied rate is derived from the closing price of the Issuer's Global Depositary Shares (GDS) on the NYSE on April 9, 2026, relative to the closing price of the underlying ordinary shares on the Bolsas y Mercados Argentinos (BYMA), adjusting for the ratio of 10 ordinary shares per 1 GDS.

	Amalia Cristina Sternheim by POA for Fernando Adrian Elsztain	07/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)